David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 11

In the same country double the quantity of labour may be required to produce a given quantity of food and necessaries at one time, that may be necessary at another, and a distant time; yet the labourer's reward may possibly be very little diminished. If the labourer's wages at the former period, were a certain quantity of food and necessaries, he probably could not have subsisted if that quantity had been reduced. Food and necessaries in this case will have risen 100 per cent. if estimated by the _quantity_ of labour necessary to their production, while they will scarcely have increased in value, if measured by the quantity of labour for which they will _exchange_.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 11 · Verified：2026-10-19 · Verification：Short excerpt

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